Business Digest

Business Digest

Article excerpt

Bridgeton Kmart to close * Sears Holdings announced another round
of store closings on Thursday, and the casualties include a Kmart in
Bridgeton.

The store, situated at 11978 St. Charles Rock Road, is among 68
Kmarts that will be shuttered nationwide, most by the end of July.

In addition, 10 Sears stores none in the St. Louis area will
close, also in July, the company said.

The Bridgeton Kmart is one of several big retailers at Hilltop
Plaza, a shopping center that also includes a Lowe's, PetSmart and
Sports Authority. The Sports Authority was among three identified
locally last month as potential candidates for closing.

Liquidation sales at the Kmart stores begin on May 12. At Sears,
they start on April 29.

Hoffman Estates, Ill.-based Sears Holdings announced in February
it would accelerate the closing of unprofitable stores. At the end
of January, Sears Holding had 1,672 stores.

According to the retailer's website, the closing will leave only
seven Kmart stores in the immediate St. Louis area: two in St.
Louis, and one each in Alton, Belleville, Crystal City, Florissant
and Granite City.

In 2011, the chain had more than a dozen stores in the area,
according to Post-Dispatch files.

Aeropostale eyes bankruptcy * Aeropostale Inc., the teen-
clothing chain that has suffered years of losses, is preparing to
file for bankruptcy as soon as this month, according to people
familiar with the matter.

The company is looking to reorganize under Chapter 11, said the
people, who declined to be identified because the matter isn't
public. Aeropostale is trying to work out a loan to finance its
operations during the bankruptcy process, according to the people. A
deal to avert a filing or find a buyer also could still emerge, they
said.

Aeropostale's trip to bankruptcy court would follow three
straight years of losses and a feud with its main lender, Sycamore
Partners, which also owns a key clothing supplier. The New York-
based retailer has struggled to hang on to teen consumers, who have
shifted to online shopping or chains like H&M. …